First American Bank & Trust v. Georgacopoulos

District Court of Appeal of Florida

First American Bank & Trust v. Georgacopoulos

472 So. 2d 818, 10 Fla. L. Weekly 1695, 1985 Fla. App. LEXIS 14968

CourtDistrict Court of Appeal of Florida

DecidedJuly 9, 1985

DocketNo. 84-1780

StatusPublished

This text of 472 So. 2d 818 (First American Bank & Trust v. Georgacopoulos) is published on Counsel Stack Legal Research, covering District Court of Appeal of Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

First American Bank & Trust v. Georgacopoulos, 472 So. 2d 818, 10 Fla. L. Weekly 1695, 1985 Fla. App. LEXIS 14968 (Fla. Ct. App. 1985).

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Opinion

BASKIN, Judge.

This is an appeal from a final judgment requiring garnishee First American Bank and Trust [First American] to pay interest on a judgment obtained by appellee Geor-gacopoulos from defendant Dantata. First American maintains that it is not liable for the interest, admittedly accruing on the Georgacopoulos judgment, because interest was not expressly mentioned in the writ of garnishment. We disagree and affirm.

Interest on a judgment accrues by operation of law, § 55.01(1), Fla.Stat. (Supp.1980); thus, its inclusion in the writ was implicit. Moreover, upon being served with the writ of garnishment, the garnishee bank was required by section 77.-06(2), Florida Statutes (1983), to retain any deposit or account of the defendant, subject to the limitations of section 77.19. Section 77.19 permits the bank to retain up to “double the amount which the writ of garnishment specifies as the amount plaintiff expects to recover or ... the amount of the judgment plaintiff has recovered.” § 77.-19, Fla.Stat. (1983). Having failed to retain the appropriate sum of money as required by statute, First American is liable for the interest accruing to plaintiff Georgacopou-los in this cause.

Affirmed.

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BASKIN, Judge.

This is an appeal from a final judgment requiring garnishee First American Bank and Trust [First American] to pay interest on a judgment obtained by appellee Geor-gacopoulos from defendant Dantata. First American maintains that it is not liable for the interest, admittedly accruing on the Georgacopoulos judgment, because interest was not expressly mentioned in the writ of garnishment. We disagree and affirm.

Interest on a judgment accrues by operation of law, § 55.01(1), Fla.Stat. (Supp.1980); thus, its inclusion in the writ was implicit. Moreover, upon being served with the writ of garnishment, the garnishee bank was required by section 77.-06(2), Florida Statutes (1983), to retain any deposit or account of the defendant, subject to the limitations of section 77.19. Section 77.19 permits the bank to retain up to “double the amount which the writ of garnishment specifies as the amount plaintiff expects to recover or ... the amount of the judgment plaintiff has recovered.” § 77.-19, Fla.Stat. (1983). Having failed to retain the appropriate sum of money as required by statute, First American is liable for the interest accruing to plaintiff Georgacopou-los in this cause.

Affirmed.

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Bluebook (online)

472 So. 2d 818, 10 Fla. L. Weekly 1695, 1985 Fla. App. LEXIS 14968, Counsel Stack Legal Research, https://law.counselstack.com/opinion/first-american-bank-trust-v-georgacopoulos-fladistctapp-1985.